Sunday, January 20, 2013

Goldman, Morgan Stanley settle foreclosure suit

WASHINGTON - Goldman Sachs and Morgan Stanley will pay a combined $557 million to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.

The agreements with the Federal Reserve announced Wednesday were similar to deals struck earlier this month with 10 other major banks and mortgage lenders. Combined, the 12 firms will pay more than $9 billion.

Read more: Goldman, Morgan Stanley settle foreclosure suit

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